Published Date : Dec 13, 2016
Albany, NY, Dec 13, 2016: The report, titled ‘Global Construction Chemicals Market 2016-2020,’ is available for sale on the official website of MarketResearchReports.biz. According to the report, the global construction chemicals market is anticipated to exhibit a CAGR of 5.59% from 2016 to 2020 and the main driving force for the market is expected to be the growing investments in infrastructure and rising urbanization across the globe. The report also takes into account the trend of North American chemical plants shifting to shale gas as raw material.
According to the report, the global demand for construction chemicals is increasing as the repairing activities of old buildings and monuments are growing. In addition to this, new construction activities in the future are expected to hold promising growth potential for the global construction chemicals market. On the other hand, less acceptance can be a problem for the market. It is likely that emerging nations take more time to accept these chemicals. However, the impact of this restraint will be low in the coming years.
The growing trend towards green and energy efficient buildings are increasing the demand for eco-friendly construction materials and this is compelling manufacturers to develop water-based reactive formulations to meet the criteria set by emission regulations. Players in the construction chemicals market are also focusing on promoting hot melt products that do not emit volatile organic compound (VOC), thereby saving the environment from hazardous gases.
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Some of the prominent players in the global construction chemicals market are BASF, Mapei, RPM, Sika, and W.R. Grace & Co. Many other regional and local companies are leading in the emerging nations by providing cost-effective and high-specialty chemicals. The rivalry among players is likely to strengthen as technology advances and new product developments occur. Global players are expected to enhance their market presence by acquiring regional and local players.
On the basis of geography, Asia Pacific is appearing to be the most lucrative segment. Asia Pacific generated the highest revenue in 2015, led by countries such as Japan, India, and China. The region is witnessing growing investments in the energy infrastructure sector as well as other non-residential sectors and this is driving the demand for construction chemicals. On the basis of product type, the market is segmented into protective coatings, flame retardants, adhesives and sealants, asphalt additives, and concrete mixtures. Of these, the protective coatings segment led in 2015 and will continue to do so through 2020. Protective coatings such as primers, paints, lacquers, stains, and varnishes, serve as physical barriers to high levels of harsh climatic conditions and wear and tear. These coatings also resist corrosion, UV beams, and fire, thus fueling their demand.
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